The Directors of a company has formed a Charitable Organization and the trust is now a public charitable Trust registered U/s 12 AB.
For a capital asset addition, the Company has granted loan to the trust and the trust is paying interest to the trust below the normal bank rates.
Whether payment of interest which is under arm's length will be treated as a benefit to specified person as per section 13(1) (c)?
K R Kiran Kumar & Associates
Bengaluru
CA Inter
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N J Suresh & Associates
Bengaluru
CA Inter
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Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
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Suraj Garg and Associates
New Delhi
CA Inter
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Bharat Shah & Associates
Mumbai
CA Inter
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CCI
Pro
CAclubindia
